Podcast Episode 115 Transcript

Episode 115: Best Of Krista Mashore

Are you ready to bring your real estate game to the next level? My name is James Prendamano. I'm the CEO and founder of Prereal. And over the past 25 years, I've closed over a billion dollars in transactional real estate. Each week, I'm meeting with outstanding and investors, highperforming individuals and visionaries operating in the real estate space. These are the people that are actually out there in the real estate game right now getting it done. This podcast aims at bringing anyone's game to the next level. This is the prereal podcast.
Welcome, everyone, to the Prereal podcast. We're joined today by Krista Mashore. Krista is top 1% of Realtors nationwide for 20 years running. Okay. She sold over 2300 homes. She's top 1% of coaches nationwide, best selling author on four different books. She was named among the top 125 impactful leaders in 2022. Recognized by Forbes, Wall Street Journal, NBC, fox like we're talking Tony Robbins. And folks along that Elk. She is an absolutely amazing woman. Tremendous energy, brilliant entrepreneur, and that's what we've got for the intro. Krista, thank you so much for joining us.
Thanks for having me on here. I'm excited to be here. I know we were just talking about earlier. There are so many ways to do real estate now, and it has changed and adapted so much over the years. But it seems like sometimes real estate agents just have a reluctance. They're very reluctant to make the change, and we're hoping to get people excited about kind of seeing this in a new way.
Today, I have found that it is very difficult to translate that fire, that passion, that tenacity to others. Resources, I think, have become our biggest enemy. I think that people are too comfortable today, and absent that necessity, there is always an excuse and always a reason. Like you said, oh, I don't like the way I look in video. I don't like the way I sound, and my broker should be doing that for me. Blah, blah, blah, blah, blah.
There's too much competition. There's not enough inventory. It's always I agree. I absolutely agree.
Cannot be taught, cannot fire, and that tenacity cannot be taught, or is that just something that Krista and people like Krista have in their DNA? Seriously?
I think it's very difficult to teach drive. Like, I've learned that it's very difficult to teach drive. But the biggest thing that people need to learn is they need to have belief, right? Every month, I do a three day boot camp, and my coach told me, krista, you can't teach these people everything you've learned in 20 years. You can't teach them all the digital marketing that you've learned in ten years. You can't teach them that. You've got to get them to believe that they can do it. And that's also one of the success principles. You've got to get them to believe that they can do it, because people just need like, they need their GPS they need help. They need to believe they can do it, and they need help getting there. So let me give you an example with this. I believe in fast tracking results. So I love paying for speed. I will pay people for things to collapse timeframes all day long. And it's so funny. In real estate, I think it's the most lucrative business you can almost be, and it's one of the most lucrative professions, right? I remember my best month in real estate, and I don't live in these are like the houses we're selling for around $400,000. Okay? My best month in real estate, I sold 26 homes in one month, resulting in 360 some odd thousand dollars in commission in one month. I made $60,000 in a full year. After teaching for six years with a master's degree as a teacher, my first year in teaching, I made 30 grand in a year. There's so much money to be made in real estate, but people are not willing to invest in the skills and the knowledge and the know how. You don't need to be learned to be a top producer. You need to learn how to be a marketer, right? Market yourself. Market your listings. Anytime anybody thinks real estate or their community, they need to be thinking about you. I've trademarked the term community market leader, and that's the way it should be when the market crashed. James I remember I had sold 169 houses my best year in real estate by myself. There was no other licensed agent. It was just me. And I had an assistant and a transaction coordinator. It was freaking crazy, right? They were all foreclosures. I had 13 different banks I worked for, and all of a sudden, the market got better, and I went from 169 down to twelve. Okay. Crazy enough, I still made so much money that year because that was when the market was going crazy. And they were paying, like, 6% commission. They were paying, like, $100,000 bonuses. It was insane. But all of a sudden, nobody knew who I was because for the previous five years, I was just selling foreclosures. I wasn't marketing them or doing any of that because they were flying off the shelves, right? And I went on a listing appointment, and I lost the listing, and they said, Krista, we really liked you, but the last guy called you a foreclosure queen. And I was like, oh, my God, I am a foreclosure queen and nobody knows me. So I started researching. What are the Fortune 500 companies doing? How does Google and Nike and how do these forces to be reckoned with? How do they market? And they do what is called content marketing. They're always putting out content. And so I have the term engagement marketing. So I want to put content out there. I want to engage my community with the content. I want to add value and figure out what people's problems are. And be the solution to those problems. And I want to show up where they're looking all the time, so it's impossible for them to forget about me. And so I made the choice. I remember calling my lender, and I said, I want to dominate these two neighborhoods. And here's what we're going to do. We're going to do what I call digital location domination. We're going to start running ads online. We're going to run ads on Facebook. We're going to use video. We're also going to make sure we send a postcard every ten days to every single community in every single house in this area. Everyone's going to know who we are. And she was like, okay, you're crazy, but I trust you. And we did it. And we dominated, right? So within a year, it was back up. Over 100 homes a year. And none of them were foreclosures or short sales. They were traditional sales. But it was because I was willing to invest in my marketing dollar, invest in the knowledge to learn how. And I was consistent, and I did not give up. The biggest mistake that I see people doing is they give up too soon. And there's a study called the Change or Die study. It was basically people that were dying. They were going to die of heart problems. And the doctors told him, if you don't stop doing what you're doing, you are going to have a heart attack, and you are going to die. You've got to stop doing what you're doing. After a year, nine out of ten people could not make the change. Even with death on the line. I mean, with death on the line. James however, there was another group of people, same thing. They were at the doctor's home. You're going to die. But they gave them accountability. They gave them coaching, and they gave them a support group. Out of that group, after a year, 77% of them were able to make the change. Wow. So you just need your GPS. You just need help. The biggest mistake that people make is thinking they can just figure it out and do it on their own. Like you said, you you said to me, before or after, we both know that agents don't have support. They don't have help. They're told, use this thing, but no one teaches them or coaches them on how to do it. So everybody fails, and they don't have the support they need to learn how to truly be different and unique. And most people are not willing. I mean, even if you only make a $3,000 commission, okay, that is more money than most people make in a month, right? And some people can make 30,000 a commission or 100,000 or 20,000. It's like, figure it the hell out, and you will be a rich person. But there's so much competition. You can't be doing what everyone else is doing. And most people that complain about having to reduce their commission. They are still being paid too much because they're doing, they're doing nothing. They're putting a sign up, they're holding an open house. You're getting paid too much, you've got to be doing more. These people deserve it.

Most agents, they don't get there. I would venture a guest and say eight to nine out of ten agents don't put a single dollar aside when they get a closing check for future marketing. They just don't do it. Right. The process and we were talking offline earlier, we launched Prereal and created I brought in someone from Apple to become our CMO. They're running all of the ads, they're generating content, they're pumping out all sorts of information for the brand, right? But trying to motivate and inspire folks to fall in under that flag and produce the content and get out and market pursue, you've got to put your flag down. I think there is competition. There's a lot of competition, Krista, but it's not fierce competition, it's volume competition. Does that make sense? Oh, totally. Absolutely. You can take a brand new agent or somebody that moves into a brand new area and within twelve months they can be beating out top producers just by being different. Because the community, the real estate community, your sellers and buyers know that they deserve more. And they do. They know that you are being overpaid and you're not doing enough. Right? I was laughing. And I don't sell real estate now. I'm like the face of the company. So I record the videos and I do all of that stuff and I market them. And my brother goes on the appointments, he talks to buyers and sellers. And we still did over a million dollars in gross commission last year without me ever talking to anybody. Right? Because we're using marketing, but we can show a seller. When people were saying over the past six months old marketing is not important, houses are flying off the shelf. And I was like, well actually it makes about $166,000 difference and here is all the data to show it. It does make a difference. And when you can, I always call it winning before you arrive. You need to win before you arrive, right? And people need to be thinking about you. Not when they're ready to make a decision, but way before because they are thinking about it for a long time. So if somebody has to ask the question, who should I call? And you're being referred, you're already too late. They're going to give 800 people. People need to be knowing about you, your product, your service, what you offer, what makes you truly different, how you can serve them, how you can solve their problems. And they can way before they're ready, right? And if you can do that, you're winning before you arrive, before a listing appointment. There is like people have seen me consume my videos, watched my content, gone to my landing pages, gone to my funnels, when they raise their hand and say, hey, can I have a market analysis? I drop off my book. I drop off my marketing plan. I drop off a seller's guide. I send them to a 17 minutes marketing presentation video, which, by the way, they watch. I send them to a funnel that's got 23 videos on it all about selling. I mean, by the time I get there, they're like, how do we sign? Like, Krista, what do we do? Right? We love you. Don't worry about it. They're not asking about commission. They're canceling their appointments with the other people that they were going to interview, because I'm not just doing what everyone else is, and we can show them. And they know that they need that. No one has just been able to put it into words yet. So that is how a new agent can beat a top producer, because most top producers are top producer by default. They've just been that person. I can tell you, James, time after time, we have taught people how to beat top producers. And they're like, man, it was easy because they just aren't doing the kind of things that I just said.
So we've been talking to agents and inspiring folks to start changing their mindset, because that next generation. Most of the top producers today are more seasoned, right? They tend to be the agents and brokers that have been around for a long time. They've got a lot of contacts. They've kind of got their book rolling. But there is another generation coming, and they're coming fast, and they are deploying all of those tools in the toolbox. And if you don't start really dramatically changing your approach, those kids are going to be the top producers. And I'm not talking about ten years from now. I'm talking about imminently in the next year or two. Those kids that did grow up with an iPhone in their hand that do know all of the details, SEO and SEM and Display and all of the different platforms and all of the different ways to connect. They understand content marketing. They enjoy it. They're comfortable with it. It's what they consume. So it's a natural fit for them to produce. They're coming quick and to get folks to recognize that so the audience understands. When I have folks on the show, there's a lot of people we pass on, right? And as I was diving into Krista's content, her podcast, by the way, fired up outstanding. They're, for the most part, shorter episodes. They're to the point. They're gold if you're in the business, gold in many of those episodes. And one of your episodes talked about how you win, and you touched on a little bit of it now, every listing appointment, because before you get there, the marketing plan, you're dropping off in advance, your sales funnel, the video, you wrote a book about each one of the markets that you're focusing on how to sell your home in this market, right? That's the type of investment of time and intellectual capital that's required to win today. And once you've created that marketing plan, once you've written that book, once you've created those 20 videos in the funnel that you want your sellers to all of the sellers, the stats are out there, folks. Look it up. What do people search when they want to sell their home? A whole bunch of questions come up. Create videos that answer those questions, put them on your YouTube channel, and direct your potential clients to the channel. It's that simple. But so many people don't do it. Krista so let's speak to the folks out there that are in the business that want to take the next step or the new folks that are just getting in. Where do we start? Where do we start to get right? And I love how you get this, right? So your content will be working for you while you're sleeping. It's called views while you snooze, okay? You want to market one to many, not one to one. An open house is one to one video. And putting content where people are at, like social media and online, is marketing one to many, right? And once I record it, I'm done. I can have organic traffic. I can send page traffic to it. I can talk to a seller and be like, hey, just go ahead and watch my recent market update. In fact, before I got on this call, my brother and I were downstairs doing a market update. We listed a house in the city called Oakley. And in this specific neighborhood, anytime we list a house, we do a marketing campaign where we target that neighborhood digitally. And we also targeted with a postcard. And on the postcard, on the digital flyers that we're doing, we have a QR code that then goes to a market update of the entire neighborhood, right? And so now we're telling them about our listing, but more importantly, they're knowing what's happening in their area, right? And it's a video, and it's like, it's specific and it's unique, and it's different, and it takes us literally ten minutes to do not even that, like five minutes to do. The hardest part is getting the CMA together and getting the tax roll and all that, and then recording the three minute video. And then that just goes to a QR code, and bam, here I am putting myself in front of the entire area. Anybody can do that. You can just be like, hey, it's Krista. And everyone's always interested in what their houses were. So I went ahead and did a neighborhood report of what's happening in the market. Right now in your neighborhood, you don't have to have a listing. You don't have to have work with a buyer. You can just do a report about the area. Now, here's the thing I see people getting ready, and they're aiming with their never firing. They're afraid I'm going to make a mistake. They're afraid of what they look like. They're afraid of what they sound like. They're afraid no one's going to look like them. Who cares? You cannot stick a battery over your head when you leave the house. That's how you look. That's how you sound. That's who you are. Nobody cares as much as you do about any of the things that you're worried about. They just don't care. We're not that important. Okay. Video and properly distributing it so it's actually seen will be the strongest way for you to dominate any area or any market as quickly as possible. It has helped me build three multi million dollar companies. My real estate company, my coaching company. I took the exact same strategy we did in real estate. We applied to coaching, and I'm the top 1% of coaches nationwide. In a matter of a few years, right? We've done, I think, close to $45 million. Not in actual sales, not, like in a very short time. From this strategy, you can do it. Start creating content about your area. Interview local restaurants. What are the things to do nearby? What are the best dog parks in town? Where's a great happy hour? What are the schools like in a certain neighborhood? What are the styles of homes, the prices of homes? Why are they different? What are the unique? Interview local professionals and just do it. Don't worry about the graphics or it being perfect. Just get the content out there. I always say the fastest way to dominate a neighborhood is to pick a neighborhood and create as much content about that neighborhood, like anything and everything about the neighborhood. What's nearby, what's fun to do, where can you eat, what are the schools, what's in walking distance, what's the shopping like? Prices of homes, styles of homes. You do that, and I will tell you what in a year. I'm not allowed to say guarantee. But I can pretty much tell you that within a year. If you do that consistently and you put money behind it so it's actually being seen. And you make sure you put it on your website and on YouTube. Because your website and YouTube are owned by Google. The number one search engine in the world. Followed by the second most valued search engine. YouTube. That when people go to search, they're going to find you, and you will very quickly start selling homes. Now, the problem is this, James, is that people are afraid to start because no one likes to do video. People, they're definitely afraid of it, but anybody can learn to do it. It's just a matter of getting over your own self, right? And practice will make it easier, but it's a matter of they stop because they don't see the results soon enough. And it takes time, right? Like Rome wasn't built overnight. I love when I people say, oh, my God, you built this multi million dollar coaching business so quickly. I'm like, no, it's been 21 years of me being four years. It's been 20 years. You know, just don't stop. And you'll do it.
Yeah. So you have a boot camp coming up to help inspire folks to kind of get off the sidelines, right, and get in and get going. Can you spend a minute or two on the boot camp? Yes. So the boot camp comes up. We do it twice a month if you just go to Kristamashore.com/bootcamppodcast. So kristamashore.com/bootcamppodcast. It's all one word. It'll get you access to our it's two and a half days. It's virtual. It's so affordable. It's the cost of a few cups of coffee. And we literally go all into digital marketing and unique selling proposition and finding your client avatar and your niche and how to use video and why, and we just teach people how to become master marketers.
Are you covering any component of mindset? There's 30% of its mindset. And here's why. Because I can give you all the skills in the world, but if I can't get you to do the thing and believe in yourself, it won't make a difference. So we absolutely incorporate tactical skills, strategy, and mindset throughout the three days. It's fascinating to me that rich dad, poor dad does a good job of capturing some of this, but there's a negative connotation that some people have with real estate agents, including real estate agents. Right? They got that perception of themselves, and almost people kind of scoff, oh, you're a realtor. You're in real estate. Listen, folks, there is no better place where you're not trading time for money, where you can scale and you can make real, serious money. I don't care what market you're in in a relatively short period of time. Real estate, it's the greatest business in the freaking world. And I think there's just so much negativity around it that people just kind of don't get out of their own way, and they just keep doing what they've been doing for the last 20 years, and then they wonder why things aren't changing. You know, it's crazy to go to, like, the most prestigious colleges in the world, harvard, Cornell. It costs between 60 and $70,000 a year. Do you know, after graduating after four or five years, the average person makes around $68,000 a year? And after being in that industry for twelve years, it's around $85,000 a year that they make graduating from those colleges. Now they have hundreds of thousands of dollars of debt. And to make $65,000 a year, or cap at 85, right, doctors go to school for 13 years. They acquire $500,000 of debt. They work 150 hours a week to make 500 grand a year. After 13, 14,15 years, you can make that easily in a year with the right skills, but people just aren't willing to do it. They settle with mediocrity. They don't invest in themselves, they don't invest in the skill, they don't give it the time. Who cares? If it takes three years to learn, who cares? It's going to take you five to get a degree to make crap. So I'm a little passionate about this.
No, I love it. You could make that in one deal. I know. The right market, the right discipline, and the right typology as far as asset class goes, you can make that and we have done that in one deal. This is an amazing business to be in. I don't think there's ever been a better time to get into real estate. So, Crystal, we're going to have, of course, all the links and all the information where folks can find you. I'm going to reach out separately. I want to bring all of my team and join your next boot camp. I think it would be a great way to kind of give another advantage to my team. So all of that will be below folks. But Krista, just spend 1 minute on where people can find you. The best way to reach out, if you will, for the coaching, the real estate, the books, the whole nine yards. Yeah, you can go to Kristamashore.com and all of it is there. Obviously. I'm on all the socials Krista Mashore coaching or just my name and go to bootcamp. Kristamashore.com/bootcamppodcast and I'll see you there. And yes, I appreciate be on your James. Thank you so much. I love it now. This was a treat. I really do appreciate the time. And we'll catch you at that boot camp. Okay? Yay. Thank you. Krista. Make sure everybody, as always, please stay safe.